Start the motor, put it in gear, and hold a wire brush to that moving shaft. NO lanyard on the brush!!!!!
Trescool..... they always are supposed to leak... they are designed to leak to cool the shaft seal. It's fine if there is a wee drip, as long as it's not peeing out.
The leak may not be that bad. All of that will clean up quite nicely, given some attention.
I would wait until you haul it. That shaft looks a bit tired, and heat will get that flange off. If the shaft is shot, just cut it off with a grinder and save the coupling... the big rusty bit on the right. You will not have to move the motor then if you cut the shaft. You will need a new shaft of course.
Orthodox stuffing box packing is fine. You will have to get the old stuff out. There is a curved, pointed, screwdriver-like tool available to help you if the shaft is still there, and it's a gift to remove if the shaft is not there.. Remember when you replace it, use horseshoe sections of the stuffing, and not a spiral.
Properly done, you will get 15 years out of a packing, and easily.